When you plan for home improvements or thinking about making a change to your exterior home appearance then a common question may rise in your mind- how would I finance my garden room or garden office? Yes the answer to your question could be many ways, it depends on each individual. Many of you extend the garden room or office project using your mortgage to cover much of the costs, but there are still other ways you can finance your garden project, here are few of the financing options:
- Garden agencies: There are plenty of garden room and garden office financing agents who can offer great deals. You can buy a new garden office just by depositing a small amount in the form of a down payment, usually this payment could be 25% of the total amount and the rest of the balance should be paid off before a specified date. If you’re able to pay the balance amount within the time specified then you need not pay any interest on it, but in case you fail to pay it then you have to pay higher interest rates.
- Payday loans: It is a short term loan and doesn’t require any credit check. A payday loan could be the best option when you’re credit rating is poor, even if you don’t qualify to get a mortgage loan or other installment loans, you can still finance your garden office with this loan. It is very easy to obtain just by satisfying certain eligibility criteria; you should be an employee receiving your monthly wages regularly. Before applying for this loan remember this is not meant for a long period and you should repay the amount immediately, as you receive your next payday, although there are some companies who extend the payment date.
- Credit cards: Although credit cards charge higher on interest rates there are few companies that provide interest free credit, especially for garden rooms. For this type of agreement you have to pay a higher initial amount at first and later you need to pay off the credit in monthly payments with no interest costs. Different lending companies vary in terms and other policies, so make sure you read them before signing any agreement.
- Other financial institutions: Research the internet and you can find many financial corporations who offer a fixed number of monthly payments for renovating your garden space, to build garden room or to construct garden office. All you need to do is deposit a down payment and make regular payments without delay. With this you can get the benefit of paying lower interest rates over a longer time.
My name is Michelle. I am a tech writer from UK. I am into Finance. Catch me @financeport